OpenAI's spending spree is powering the tech industry. Oracle is the latest winner
1. Oracle's earnings report boosted by OpenAI's expected cloud spending. 2. OpenAI plans to invest $300 billion in computing power over five years. 3. Oracle's backlog surged 359% to $455 billion, largely due to OpenAI. 4. Analysts express concerns over Oracle's reliance on a single large customer. 5. Oracle's market cap neared $930 billion before declining to $830 billion.